How hyperbolic discounting preference affects Chinese consumers&apos;   consumption choice between conventional and electric vehicles

doi:10.1016/j.enpol.2016.07.004

CORC > 北京大学 > 心理与认知科学学院

	How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles
	Wu, Tian ; Shang, Zhe ; Tian, Xin ; Wang, Shouyang
刊名	ENERGY POLICY
	2016
关键词	Hyperbolic discounting Life-cycle private cost China transport Time discounting Irrational vehicle consumption choice LIFE-CYCLE COST GREENHOUSE-GAS EMISSIONS CHARGING INFRASTRUCTURE ENERGY-CONSUMPTION BATTERY MANAGEMENT TIME PREFERENCE FUEL HYBRID MARKET GHG
DOI	10.1016/j.enpol.2016.07.004
英文摘要	This paper presents a theoretical model and addresses several issues related to life cycle cost analysis to illustrate how time-inconsistent preferences affect consumer choice. The particular case study selects involved consumer choice between a vehicle with high initial acquisition cost but low ownership cost (e.g., an Electric Vehicle, EV) and one with a low initial acquisition cost but high ownership cost (e.g., a conventional Internal Combustion Engine Vehicle, ICEV). To test our theoretical analysis, we conduct an empirical study on how time discounting rates affect consumer choice between ICEVs and EVs with different initial cost ratios. From the survey results, we find that individuals with higher present bias showed irrational purchase behavior even when controlling for wealth level. Specifically, people making some "stronger bias to present' decisions chose higher total cost ICEVs with lower initial cost but higher ownership cost over lower total cost EVs with higher initial cost and lower ownership cost. However, people's long-term discount is not correlated with irrational vehicle purchase behavior. Furthermore, we study the present bias and long-term discount rate in one scenario and found present bias to be correlated with irrational behavior. (C) 2016 Elsevier Ltd. All rights reserved.; National Natural Science Foundation of China [71390331, 71202114]; Shandong Independent Innovation and Achievement Transformation Special Fund of China [2014ZZCX03302]; SCI(E); EI; SSCI; ARTICLE; tianx@ucas.ac.cn; 400-413; 97
语种	英语
内容类型	期刊论文
源URL	[http://ir.pku.edu.cn/handle/20.500.11897/450030]
专题	心理与认知科学学院
推荐引用方式 GB/T 7714	Wu, Tian,Shang, Zhe,Tian, Xin,et al. How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles[J]. ENERGY POLICY,2016.
APA	Wu, Tian,Shang, Zhe,Tian, Xin,&Wang, Shouyang.(2016).How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles.ENERGY POLICY.
MLA	Wu, Tian,et al."How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles".ENERGY POLICY (2016).